The Indian stock market is set for a positive opening today, influenced by strong global trends and gains in Asian markets. Here’s a quick look at the key factors impacting the market:
1. Global Market Cues
- Asian Markets:
Asian stocks are trading higher after Wall Street’s rally.- Japan’s Nikkei 225 is up 0.54%, and South Korea’s Kospi gained 0.67%.
- Hong Kong’s Hang Seng index is expected to open flat.
- Wall Street Rally:
The US markets closed strong on Thursday:- Dow Jones rose 1.06% (461.88 points) to 43,870.35.
- S&P 500 gained 0.53% to 5,948.71.
- Nasdaq ended marginally higher, up 0.03%.
Notable stocks: Deere jumped 8%, Snowflake surged 32.7%, while Alphabet and Amazon saw declines.
2. Gift Nifty Signal
Gift Nifty is trading at 23,450, about 100 points higher than Nifty futures’ last close, suggesting a positive start for Indian markets.
3. Impact of Geopolitical Tensions
Russian President Vladimir Putin confirmed missile strikes in Ukraine and warned Western nations against supporting Kyiv. Rising global tensions have pushed crude oil prices higher.
4. US Federal Reserve Commentary
- Fed officials hinted at the possibility of further interest rate cuts but suggested a slower pace of reduction.
- Investors are closely watching developments ahead of the mid-December FOMC meeting.
5. US Jobless Claims
New unemployment claims in the US fell unexpectedly to 213,000 last week, showing strength in the labor market. Economists had predicted 220,000 claims.
6. Japan’s Economic Data
- Japan’s manufacturing sector contracted for the fifth month, with PMI at 49.0.
- The services sector, however, showed slight growth, with PMI at 50.2.
7. Gold Prices
Gold prices are steady after a strong week, driven by safe-haven demand amid geopolitical uncertainty.
- Spot gold is trading at $2,669.99 per ounce, up 4% for the week.
8. Indian Market Overview
- On Thursday, Sensex fell by 422.59 points (0.54%) to 77,155.79.
- Nifty 50 dropped 168.60 points (0.72%) to 23,349.90.
Experts expect volatility to persist due to geopolitical concerns, FII selling, and uncertainty around state election results.
Analyst’s Take
Siddhartha Khemka from Motilal Oswal expects markets to remain volatile in the near term due to external and domestic factors. Traders should monitor key levels like 23,200–23,550 on Nifty for directional cues.
This mix of global and domestic developments will steer the markets today. Stay tuned for updates!
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
